As temperatures drop and the fall season comes to an end, stress spikes in HR departments all over the country—that’s because it’s open enrollment season. Open enrollment is a window during which individuals and employees may add or drop their health insurance, or make changes to their coverage. The 2020 open enrollment period runs through Saturday, December 15, 2019, and if your employees don’t act by then, they can’t get 2020 coverage unless they qualify for a special enrollment period. Keep in mind that for employer-sponsored coverage, the open enrollment period is set by the employer, so be sure to clearly communicate these dates to your employees. To make a better impact on your employees this year and drive engagement to new levels, here are a few suggestions on how to innovate your strategy.
In preparation for HSA Day, we're counting the reasons HSAs are beneficial to both employers and employees.
As consumer-driven benefits continue to rise in the market, so the options for benefit administrators continue to expand for employers. Carriers, banks, HR software companies—it seems that more and more providers are adding FSA and HSA administration to their list of services. With so many choices, it can be difficult to decide who to trust with your pre-tax benefits, but in this dynamic, complex benefit world, it’s more important than ever to have a provider that offers stability, compliance expertise, security, and personalization.
Knowing who you work with -- and providing your clients the resources to choose who they work with -- is important. But in the increasingly complex healthcare industry, it can be a challenge to juggle information from so many partners and vendors.
Tags: Cafeteria Plans, COBRA, COBRA Administration, Compliance, Colorado, FSA, HSA, TPA, Benefit Administration, employees, benefits, employers, third party administrator, brokers, Health Savings Accounts, Infographic
It comes as no surprise that many Americans are concerned about retirement. Diligently putting money into 401(k) or any other form of retirement savings account, many still miss one key ingredient that could offer not only tax benefits, but sustainable growth well into retirement.